Stagnant US import HDG prices keep activity sluggish

As with previous weeks, despite the "usual orders," trader sources tell SteelOrbis that import activity remains quiet. The similarity between US domestic spot prices and import offer prices to the US, coupled with growing uncertainty of the US domestic market's immediate price trend, has most US buyers shying away from futures for the time being. While Mexican mills have been somewhat flexible with their offers--striking deals on a case-by-case basis--other import sources have kept prices unchanged. New Chinese offer prices are stable, with any changes in Indian and Taiwanese prices expected to be minimal.

Meanwhile, import orders placed late last year are arriving in the US in large numbers. According to Steel Import Monitoring and Analysis (SIMA) data, 155,806 mt (license data) of HDG sheet and strip arrived in February--the highest level in over a year, and a substantial increase over the 109,907 mt (census data) imported in January. Although March arrivals will likely finish under February's (74,875 mt arrived as of March 20), this month is also set to finish strong.

**DDP loaded truck delivered into Houston